Sparebanken Vest (0G67) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.059 Welcome to the presentation of Sparbank Invest's first quarter of 00:00:05.059 -- 00:00:10.687 2025. As usual, you can send in questions 00:00:10.687 -- 00:00:15.995 on the way to this email address. We will try to answer as many questions as possible 00:00:15.995 -- 00:00:21.080 in the Q&A sequence after the presentation. 00:00:22.424 -- 00:00:25.750 We are very pleased with the first quarter. 00:00:25.750 -- 00:00:29.917 We delivered a one-capital transfer rate of 21.3%. 00:00:29.917 -- 00:00:34.245 It is on the same level as we had in the first quarter last year. 00:00:34.245 -- 00:00:37.190 We are very well capitalized. We are at 17.9%. 00:00:37.190 -- 00:00:43.838 And we have a cost percentage, including fusion costs, of 27.7%. 00:00:44.142 -- 00:00:49.070 If we look at the inflation costs, it is at 25.2, and we also have the consolidation 00:00:49.070 -- 00:00:52.896 of Borea in this quarter, which we did not have in the same quarter last year. 00:00:52.896 -- 00:00:57.864 The cost of income for Borea is around 70, so that is also a lot to increase. 00:00:57.864 -- 00:01:02.769 If we had not had this change, we would have been even lower than 25.2. 00:01:02.792 -- 00:01:06.819 Low costs are important for competitiveness, important also for good profitability in 00:01:06.819 -- 00:01:09.360 the savings market. 00:01:09.455 -- 00:01:14.464 We have a good track record now. We have shown this over many quarter 00:01:14.464 -- 00:01:20.334 presentations. This is the development and the return on investment 00:01:20.334 -- 00:01:24.861 on average from 2012 to 2024, where we have talked to all banks. 00:01:24.861 -- 00:01:28.989 Now you can see that we are at the top with 13.7% on average in the return on investment 00:01:28.989 -- ...